Aldebaran Resources announces additional strategic investment from South32

Aldebaran Resources announces a C$17,468,604 non-brokered private placement led by investments from a wholly-owned subsidiary of South32 Limited and Route One Investment Company. The Private Placement will be structured in two tranches. Highlights: In the first tranche, South32 will acquire 8,528,756 common shares at $1.01 per common share to increase its interest in the Company from 9.9% to approximately 14.8%; In the second tranche: Route One will acquire 8,200,000 common shares at $0.88; South32 will acquire 1,462,000 common shares at $0.88; Management will acquire 400,000 common shares at $0.88; Proceeds from the Private Placement will be used to advance the Altar copper-gold project located in San Juan, Argentina and for general corporate purposes. John Black, CEO of Aldebaran commented as follows: “We are pleased to see South32 increase their interest in Aldebaran and have the continued support of Route One. This financing will put us in a strong position to execute an aggressive 2023/2024 field program on the Altar project.”